2022 (6) TMI 806

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....ma a/w. Mr. Vikas T. Kanchandani for the Respondent. ORAL JUDGMENT (PER NITIN JAMDAR, J.) None for the Petitioner. 2. By this Petition, the Petitioner has challenged the notice dated 29 March 2004 issued by Respondent No.1 under Section 148 of the Income Tax Act, 1961 ('the Act') and the order dated 14 February 2005 disposing of the objections raised by the Petitioner. 3. The Petiti....

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....letter dated 27 April 2004 requested the Respondent No.1 to treat the return of income filed on 27 November 1997 as being filed in response to notice under Section 148 of the Act. The Petitioner received notices to attend, which the Petitioner complied with. On 24 December 2004, the Petitioner requested the reasons to be supplied. The reasons were supplied by the Respondent No.1 by letter dated 4 ....

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....- in A.Y. 1997-98 which has been claimed as exempt u/s.10A of the I.T. Act, 1961 and has been allowed in assessment. As the depreciation written back pertains to earlier years sections 10A is not applicable in relation to the income of earlier years, as the provision of section 10A well introduced for A.Y. 1997-98 onwards. Further, it is seen that depreciation has been worked out on straight line ....